Cathie Wood's Ark Invest Says Bitcoin Could Be Priming For Over 3,000% Rally Over Next 12 Months As King Crypto Becomes Less Inflationary Than Gold After Halving
Portfolio Pulse from Shanthi Rexaline
Cathie Wood's Ark Invest predicts a potential over 3,000% rally for Bitcoin in the next 12 months following the recent halving event, which reduced Bitcoin's supply growth rate to below that of gold. The halving, a feature of Bitcoin's design to ensure scarcity, has historically been followed by bull market runs. Despite a recent lackluster sentiment post-halving, Ark's analysis suggests Bitcoin could become a less inflationary asset than gold, potentially influencing its value positively.
April 23, 2024 | 8:31 am
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Ark Invest's analysis suggests a potential over 3,000% rally for Bitcoin in the next 12 months, following the halving event that reduced its supply growth rate below that of gold.
The halving event has historically led to bull market runs for Bitcoin, with past halvings followed by significant price appreciations. The reduction in supply growth rate below that of gold's could position Bitcoin as a more attractive store of value, potentially driving up its price.
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